Lakshmi Nandan Reddy Obul resigned from Swiggy’s board to “pursue other professional interests”
Roger Clark Rabalais, a nominee director of investor Prosus, also stepped down from the board. He has been replaced by Renan De Castro Alves Pinto
Swiggy also appointed cofounder Phani Kishan Addepalli and CFO Rahul Bothra as executive, non-independent, additional directors on its board
Swiggy cofounder Lakshmi Nandan Reddy has resigned from the company’s board. Reddy, who held the post of whole time director and head of innovation, resigned to “pursue other professional interests”, the company said.
Reddy had been leading Swiggy’s AI concierge offering, Crew. Food delivery CEO Rohit Kapoor will be taking over the reins of this service.
“Nandan has been a vital collaborator and a visionary force throughout Swiggy’s evolution – from our beginnings in a single Bengaluru neighborhood to becoming a nationwide platform serving millions. While his daily presence will be missed, I look forward to the impact of his future endeavors,” cofounder and group CEO Sriharsha Majety said.
At the same time, Roger Clark Rabalais, a nominee director of investor MIH India Food Holdings (Prosus), also stepped down from the board. He will be replaced by Renan De Castro Alves Pinto.
The company has also appointed cofounder Phani Kishan Addepalli and group CFO Rahul Bothra as executive, non-independent, additional directors on the board for a period of five years. Both of them will join the board with effect from June 1. Addepalli, who is also the chief growth officer, had joined Swiggy in 2015 and was promoted to the position of cofounder in 2021.
“Phani and Rahul have been with Swiggy since the early days, and have been instrumental in steering the company through its most defining chapters… As we enter the next phase of our growth, their perspective will be invaluable in shaping our long-term direction,” Majety said.
The company’s board also approved amendments to its articles of association “to rationalise and update the provisions relating to nomination rights on the board”. It will now seek the approval of its shareholders for the amendments.
On the financial front, Swiggy reported a 33% jump in its consolidated net loss to ₹1,065 Cr in the third quarter of FY26, while its top line surged 54% YoY and 11% QoQ to ₹6,148 Cr.
Shares of Swiggy ended today’s trading session 1.1% higher at ₹274.9.
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